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NEW ZEALAND REGION

David Hisco – Chief Executive Officer

Teone, Tina and Arya Sciascia are participating in the MoneyMinded Aotearoa program being piloted among New Zealand South Island Māori. “The program is great way to learn the basics of money management, skills which we can share with other members of the whanau (family) and which will help us make better money decisions and save for our future,” Teone said.

New Zealand Region

Increasing the Financial Knowledge of New Zealanders

This year ANZ New Zealand partnered with Te Rūnanga o Ngāi Tahu, the governing body for South Island tribe Ngāi Tahu, to undertake an Indigenous people’s financial knowledge survey.

The 2010 ANZ Ngāi Tahu Financial Knowledge Survey was completed by 400 Ngāi Tahu members throughout New Zealand over three months. To increase the involvement and ownership of the project among the Ngāi Tahu community, all interviewing work was carried out by Ngāi Tahu members who were employed and trained specifically for the research.

The results of the survey have established an important benchmark and will support efforts to grow financial literacy and ultimately the financial independence of all iwi (tribes) in New Zealand.

The research will also inform the development of programs and initiatives to enhance money management skills. ANZ will support subsequent surveys to monitor improvements in financial knowledge over time.

Building on this partnership, ANZ New Zealand is now working with Ngāi Tahu to tailor and adapt ANZ’s MoneyMinded financial education program to reflect iwi culture and experiences. MoneyMinded Aotearoa (New Zealand) facilitators have been trained and the first Ngāi Tahu MoneyMinded workshops will be held this year. The long-term aim is to offer the MoneyMinded Aotearoa program to iwi throughout New Zealand.

Business Profile

ANZ New Zealand is the country’s largest company based on assets. As the largest financial services provider ANZ New Zealand has a banking relationship with nearly one in two New Zealanders.

ANZ New Zealand is the country’s largest financial services provider. We offer retail, commercial, wealth management and institutional customers a broad range of banking, finance, insurance and investment products and services through our branded businesses including our two retail banks.

Our breadth and diversity is reflected in the more than 9,000 people we employ from a wide range of backgrounds and skills.

Business Highlights

  • Underlying net profit# was higher driven primarily by a 48%6 decline in the provision charge.
  • Credit quality improvement was most evident in the Retail and Institutional sectors, with some uncertainty remaining around the Rural and Commercial sectors.
  • There was some margin recovery across the year, up 13 bps in the second half (up 9 bps year on year).
  • Removed and reduced 29 fees across our two retail banks delivering annualised benefits to customers of around NZ$55 million.
  • Continued to hold the number one market share position for all banking products across home, rural and business lending and also for the Kiwisaver superannuation product.
  • Awarded ‘Best Value Mortgages (fixed rate)’ by CANNEX.
  • Became Worldwide Partner and Official Bank of Rugby World Cup 2011 New Zealand.
  • Supported New Zealand’s infrastructure development and export growth, winning the 2010 Institute of Finance Professionals New Zealand (INFINZ) Bank of the Year Award.
  • Provided NZ$1 million to support the Canterbury Earthquake Appeal.
  • Invested over $2.8 million in our community through donations, volunteering and in-kind support.

Performance Tables

Financial performance# ($Am) 2010 2009 Movt%
Operating income 2,549 2,638 -3%
Operating expenses (1,212) 2,638 3%
Profit before credit impairment and income tax 1,337 1,456 -8%
Provision for credit impairment (366) (727) -50%
Profit before income tax 971 729 33%
Income tax expenses and non-controlling interests (270) (216) 25%
Profit after tax 701 513 37%
Total assets 93,096 101,319 -8%
% Contribution to group earnings 14% 14% 0%
Non-Financial performance 2010 2009 Movt
Retail Customer Satisfaction
– ANZ (%) (Source: AC Neilson)
54 61
Retail Customer Satisfaction
– NBNZ (%) (Source: AC Neilson)
66 61
Total Employees1 (FTE) 9,412 8,879
Employee Engagement1 (%) 63 67
Total Women in Management2 (%) 34.5 33.21
Lost Time Injury Frequency Rate1 2.23 1.5
Volunteering Hours1 18,285 26,778
Community Investment (A$m) 2.8 4.6
GHG Emissions4 (tonnes CO2-e) 14,887 14,496
Paper5 (tonnes per FTE) 0.15 0.14
# Underlying profit is adjusted for material items that are not part of the normal ongoing operations of the Group including one-off gains and losses, non-continuing businesses, timing differences on economic hedges and acquisition related costs. 1. Data includes Institutional employees. 2. Women in management is calculated by ‘PeopleSoft’ which, in addition to capturing staff currently actively working for and being paid by ANZ (FTE) also captures staff on special leave including leave without pay, parental leave and long-term sick leave 3. The increase in NZ’s LTIFR was expected and is due to an awareness campaign which has increased reporting of incidents. Specific actions are in place to continue to improve our LTIFR performance. 4. Includes scope 1 and 2 for ANZ NZ, estimates have been made for ING NZ and Radiola from December 2009 when ANZ took operational control. Emissions have been calculated using 2008 emission factors provided by the Ministry for the Environment. A detailed GHG profile (Scope 1, 2 and 3) and our full environmental report is available on anz.com. 5. Includes both office and print (customer) paper. Data does not include ING New Zealand or Radiola. Pending external verification. 6. Measured in foreign currency terms.